The number of funds closed in Spain over the first 31 weeks of the year dropped by 43.4% compared with the same period a year earlier.
The Spanish National Securities Market Commission (CNMV) reported that 69 funds closed in Spain for the period between January and the 8 of August 2018.
The figure is down by 43.4% compared with the same period a year earlier when 122 funds shut down in Spain.
However, the number of fund launches during the same period also dropped by 25.3%, with 65 fund launches in 2018 in Spain against the 87 unveiled in the same period of 2017.
Despite the drop, investment funds remain among the favourite savings products for Spanish investors. Over the first half of the year, funds in Spain gained €8.95bn thanks to the net subscriptions received, representing a 3.4% increase year-on-year.
In the first half of the year, Spanish funds’ assets under management amounted to €272.07bn according to the Spanish asset management industry body Inverco.